Street-Level Medical
For Sale
Contact for pricing
6940 Yellowstone Boulevard 9 & 10, Forest Hills, NY 11375
Existing dental-office layout includes treatment rooms, private offices, storage, and two bathrooms.
Property Size1,326 SF
Price / SF$292.61
Days on Market19
Property Features for 6940 Yellowstone Boulevard 9 & 10
General Information
Standard status
Active
Size
1,326 SF
Property subtype
Business for Sale, Office
Additional Details
Floor
Ground Floor
HOA Fee
$2,736
Public Transit
Yes
Listing Agency:
Mitra Hakimi Realty Group LLC
(718) 268-5588
Listed By:
Etan Hakimi · License #NY 10301204850
Source:
Crexi
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 10 at 3:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mitra Hakimi Realty Group LLC
Investment Insights
Based on property information with market context.
Units #9 and #10 form a combined commercial co-op with approximately 1,326 square feet of professional space. The street-level suite has a private entrance and is currently configured as a dental office, with reception and waiting areas, multiple treatment or consultation rooms, private offices, utility space, two bathrooms, storage, and multiple closets. The layout can accommodate medical, dental, wellness, or other professional uses as an owner-user or investment property.
The property is located at 6940 Yellowstone Boulevard in Forest Hills, near the Austin Street shopping and dining district. Forest Hills Stadium and Forest Park are also nearby. Walkable transit options include the Forest Hills–71 Av Station, served by the E, F, M, and R subway lines, and the Forest Hills LIRR station. Bus service includes the Q23 and express routes to Midtown.
The property is located at 6940 Yellowstone Boulevard in Forest Hills, near the Austin Street shopping and dining district. Forest Hills Stadium and Forest Park are also nearby. Walkable transit options include the Forest Hills–71 Av Station, served by the E, F, M, and R subway lines, and the Forest Hills LIRR station. Bus service includes the Q23 and express routes to Midtown.
Key Highlights
- Approximately 1,326 square feet across combined Units #9 & #10
- Private street‑level entrance at 6940 Yellowstone Boulevard
- Current dental‑office configuration with multiple treatment or consultation rooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,575
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$611,500
$611.5K
Cap Rate 7%
$436,786
$436.8K
Cap Rate 9%
$339,722
$339.7K
Market Conditions
NOI Build-Up for 1,326 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.7K $42.00/SF
− Vacancy
−$4.7K −$3.57/SF
EGI
$51.0K $38.43/SF
− OpEx
−$20.4K −$15.37/SF
NOI
$30.6K $23.06/SF
Area
Queens County, NY
Vacancy
8.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$611,500
Cap Rate 7%
$436,786
Cap Rate 9%
$339,722
Alternative Uses
Best Use
Office B
$623.7K
$545.7K – $727.6K
NOI $43,657 @ 7.0% cap · market cap 11.25%
Second Best
Healthcare Medical
$436.8K
$382.2K – $509.6K
NOI $30,575 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$977.5K
$855.4K – $1.14M
NOI $68,428 @ 7.0% cap · market cap 17.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,754
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bond Vets - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Steinway Court Veterinarian hospital — 107-28 71st Rd, Queens, NY 11375
- NYC Veterinary Specialists and 24 Hour Animal Emergency - Queens — 107-28 71st Rd, Forest Hills, NY 11375
- Bond Vet - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Premier Veterinary Medical Group - Forest Hills — 11249 Queens Blvd, Forest Hills, NY 11375
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing dental-office layout includes treatment rooms, private offices, storage, and two bathrooms.
Where is this medical office space located?
The property is located at 6940 Yellowstone Boulevard 9 & 10 Forest Hills, NY.
What is the asking price?
The asking price for this property is $388,000.
What are key features of this property?
This property features: Approximately 1,326 square feet across combined Units #9 & #10; Private street‑level entrance at 6940 Yellowstone Boulevard; Current dental‑office configuration with multiple treatment or consultation rooms
